The annual business operations of the National Bank For Rural Development (NABARD) in Uttar Pradesh during 2015-16 has crossed a landmark milestone of Rs 11,785 crore.

The financial support by NABARD during 2015-16 in UP included Rs 6050 crore released to Regional Rural Banks and Cooperative Banks for crop loans to farmers and Rs 2659.70 crore released as refinance to banks for investment purposes leading to capital formation in agriculture, Rs 910.77 crore as direct lending to District Central Cooperative Banks for diversification of their business and Rs 1719.77 crore to UP government for development of Rural Infrastructure.

For the first time, NABARD extended refinance support to RRBs in UP to the extent of Rs 18.20 crore for marketing activities under ST OSAO. Uttar Pradesh NABARD Regional Office Chief general Manager AK Panda said that the bank has been playing an important role in overall development of the State with special focus on agricultural credit through Commercial banks, RRBs and Cooperatives, infrastructure development through RIDF funding, strengthening of short term cooperative credit structure, women empowerment through Self Help Groups, Joint Liability Groups and several other new initiatives.

Mr Panda said to encash upon the outreach of the NBFC-MFIs to the last corner of the state for extending micro finance facilities to the unbanked rural populace, NABARD for the first time extended refinance support to the extent of Rs 292.33 crore to the MFIs in UP.

“Sanctions under RIDF touched all-time high of Rs 2211.80 crore in respect of 175 projects to the state government for critical infrastructure development including the important project sanctioned to PCDF for construction of new dairy plants and refurbishment of existing dairy plants, quality assessment labs and bulk milk coolers. The project is tipped to become a game changer in for the dairy sector”, he claimed.

NABARD being the nodal agency for dispensing subsidy under several central programmes, has for UP released Rs 104.32 crore as subsidy under all Centrally Sponsored Schemes for supporting infrastructure investments by farmers in Solar Energy, Dairy, Poultry and Rural Godowns and interest subvention for crop loan disbursement and to weavers credit card holders.

This includes Rs.3.31 crore was released towards margin money and interest subvention of 3938 weavers credit card holders. Mr Panda said an amount of Rs 297 crore has been released to the Cooperative Banks and RRBs in the state towards interest subvention for the crop loan disbursed to the farmers.

Besides a sum of Rs 26.02 crore was disbursed under various promotional programmes of micro credit, rural non farm sector, Cooperative development fund, financial inclusion, farm sector promotion as well as towards supporting the Farmers Producers Organisations.

The NABARD CGM said an amount of Rs 6.89 crore was released for livelihood development of Scheduled tribe Farmers through Orchard based livelihood in Jhansi, Sonebhadra & Lalitpur, while a sum of Rs 0.68 crore has been released for watershed development in the state.

To give impetus to Skill Development, 20 Rural Self Employment Training Institutes have been sanctioned a grant of Rs 40.58 lakh . NABARD’s support continued for rural artisans through events like Lucknow Mahotsav, Surajkund Mela etc. NABARD has sanctioned grant assistance to 31 DCCBs for the pilot on PACS to act as Deposit mobilization agencies to the tune of Rs 23.76 crore. Altogether 227 Financial literacy centres have been established by RRBs and cooperative banks in the State.

For bringing more and more rural people under Financial Inclusion initiatives, a sum of Rs 7.81 crore under Financial Inclusion Fund for supporting an array of activities ranging from Financial Literacy drives to up scaling of KCC cards to ATM enabled cards etc.With a view to creating awareness among the school children on banking and other financial products and services, financial literacy quiz programmes were conducted in 1500 schools across the state. Financial literacy awareness programmes were organized in 60 districts additionally on the eve of NABARD Foundation Day.

”Continuing our initiatives for rural women folk under SHGs and other micro credit operations, 40438 SHGs (including WSHGs) were bank linked,” Panda said. Besides 40173 JLGs were formed during the year for enhancing the ease of credit flow to Agriculture and allied sectors in group mode, to give unhindered and seamless support to micro finance movement NABARD along with various banks and SRLM conducted 4128 village level awareness programmes, he said.

For the first time NABARD roped in MFIs to act as SHPI. DCCBs as well as Urban Cooperative banks have also been roped in to act as as Joint liability promoting institutions, the CGM said a total of 130 Farmers Producers Organisations are in the process of incorporation in the state with grant assistance from NABARD.

The Farmers Producers Organisations have been spread in 53 districts of the state. To give impetus to the knowledge dissemination amongst various stakeholders, the first state level workshop on Stand Up India Scheme was organized by NABARD.

NABARD along with LDM and SIDBI will also facilitate loans and handholding to SC / ST borrowers and women borrowers for setting up of green field enterprises.

Mr Panda said NABARD has projected a target of Rs 177917 crore for 2016-17 for financing by banks under agriculture, SMEs and other priority sector in the state of Uttar Pradesh, which is 21 per cent higher than that of last year during 2015-16.

Source: new.webindia123.com